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Impact of perfo-WPS Office

Performance management systems are evolving to provide more continuous, customized feedback from multiple sources within an organization. Traditional annual reviews focus only on feedback from direct managers but future systems will leverage relationships across departments using AI to get a more holistic view. HR will develop more flexible talent models to quickly adapt goals to changing business priorities. The future emphasizes dynamic communication of priorities and focus on developing employees as the most important asset.

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Manoranjan Sharma
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47 views12 pages

Impact of perfo-WPS Office

Performance management systems are evolving to provide more continuous, customized feedback from multiple sources within an organization. Traditional annual reviews focus only on feedback from direct managers but future systems will leverage relationships across departments using AI to get a more holistic view. HR will develop more flexible talent models to quickly adapt goals to changing business priorities. The future emphasizes dynamic communication of priorities and focus on developing employees as the most important asset.

Uploaded by

Manoranjan Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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ANALYSIS OF FUTURE TRENDS IN

PERFOMANCE MANGEMENT & IT’S


IMPACT ON ORGANISATIONAL
FUNCTIONING

SCHOOL OF BUSINESS

SESSION:2018-2020
GALGOTIAS UNIVERSITY
GREATER NOIDA,UTTAR PRADESH,INDIA

SUBMITTED TO:- DR. ALKA SINGH


PRESENTED BY:- AKRITI SHARMA
RITESH SINGH ASHI SINGH RISHITA SINHA UCHIT CHAUHAN
MANDAVI SHUKLA NAYAN MISHRA NEHA AGARWAL AKSHAY
DUBEY SIDDARTH SRIVASTAVA REET SAINI KAJAL KUMARI
NIMASHA LAL
pact of performance management on the organisational
performance:
Abstract:
In the current business world humans are considered as the success factor for any business. For this
reason reputed business firms are trying to hire the best human resource that is available in the market
so that the firms can maintain its image and goodwill in the future as well. The main objective of this is
to find that PM is helpful to improve the productivity of the employees and how PM is linked with the
training needs of the employees. Another aim is to find out that how this is helpful to increase the
revenue and profitability of the firm for the current research study qualitative research is used
because it gives the brief information and understanding of theories. In order to get the brooder
view of respondents, qualitative research will help a lot. Training and the development in the
organization leads to greater benefit. To increase the efficiency of the below average workers
these reports play a very significant role. Time constraint is major problem associated with this
research. Due to lack of time the interviewer does not get much time to take the interviews. So PA
session conduction each year in McDonalds motivates the employee to work harder and harder.
Furthermore PA processes provide training and development to the employees as well as the reward
management. These factors also drive the average worker to work more and more efficiently in
McDonalds.

Keywords: Performance management, Recruitment & Selection, PA process

Introduction :

To improve organizational performance and achieve long-term objectives, some organizations seek to
reengineer their business processes or adopt new technologies that open up a variety of organizational
design options, such as virtual corporations and virtual teams. Other trends that have strong footholds
in today’s organizations include outsourcing and managing global businesses.

Reengineering Organizational Structure :


Periodically, all businesses must reevaluate the way they do business. This includes assessing the
effectiveness of the organizational structure. To meet the formidable challenges of the future,
companies are increasingly turning to reengineering—the complete redesign of business structures and
processes in order to improve operations. An even simpler definition of reengineering is “starting over.”
In effect, top management asks, “If we were a new company, how would we run this place?” The
purpose of reengineering is to identify and abandon the outdated rules and fundamental assumptions
that guide current business operations. Every company has many formal and informal rules, based on
assumptions about technology, people, and organizational goals, that no longer hold. Thus, the goal of
reengineering is to redesign business processes to achieve improvements in cost control, product
quality, customer service, and speed. The reengineering process should result in a more efficient and
effective organizational structure that is better suited to the current (and future) competitive climate of
the industry.

The virtual cooperation :


One of the biggest challenges for companies today is adapting to the technological changes that are
affecting all industries. Organizations are struggling to find new organizational structures that will help
them transform information technology into a competitive advantage. One alternative that is becoming
increasingly prevalent is the virtual corporation, which is a network of independent companies
(suppliers, customers, even competitors) linked by information technology to share skills, costs, and
access to one another’s markets. This network structure allows companies to come together quickly to
exploit rapidly changing opportunities. The key attributes of a virtual corporation are:

Technology. Information technology helps geographically distant companies form alliances and work
together.

Opportunism. Alliances are less permanent, less formal, and more opportunistic than in traditional
partnerships.

Excellence. Each partner brings its core competencies to the alliance, so it is possible to create an
organization with higher quality in every functional area and increase competitive advantage.

Trust. The network structure makes companies more reliant on each other and forces them to
strengthen relationships with partners.

No borders. This structure expands the traditional boundaries of an organization.

In the concept’s purest form, each company that links up with others to create a virtual corporation is
stripped to its essence. Ideally, the virtual corporation has neither a central office nor an organization
chart, no hierarchy, and no vertical integration. It contributes to an alliance only its core competencies,
or key capabilities. It mixes and matches what it does best with the core competencies of other
companies and entrepreneurs. For example, a manufacturer would only manufacture, while relying on a
product design firm to decide what to make and a marketing company to sell the end result.

Although firms that are purely virtual organizations are still relatively scarce, many companies are
embracing several characteristics of the virtual structure. One example is Cisco Systems. Cisco uses
many manufacturing plants to produce its products, but the company owns none of them. In fact, Cisco
now relies on contract manufacturers for all of its manufacturing needs. Human hands probably touch
fewer than 10 percent of all customer orders, with fewer than half of all orders processed by a Cisco
employee. To the average customer, the interdependency of Cisco’s suppliers and inventory systems
makes it look like one huge, seamless company.

Virtual Teams :
Technology is also enabling corporations to create virtual work teams. Geography is no longer a
limitation when employees are considered for a work team. Virtual teams mean reduced travel time and
costs, reduced relocation expenses, and utilization of specialized talent regardless of an employee’s
location.

When managers need to staff a project, all they need to do is make a list of required skills and a general
list of employees who possess those skills. When the pool of employees is known, the manager simply
chooses the best mix of people and creates the virtual team. Special challenges of virtual teams include
keeping team members focused, motivated, and communicating positively despite their locations. If
feasible, at least one face-to-face meeting during the early stages of team formation will help with these
potential problems.

In today’s high-tech world, teams can exist any place where there is access to the internet. With
globalization and outsourcing being common strategies in business operations today, companies of all
shapes and sizes utilize virtual teams to coordinate people and projects halfway around the world.
Unlike coworkers in traditional teams, virtual team members rarely meet in person, working from
different locations and continents.

Organizations are revising the way they go about the performance review process. And a complete
overhaul of the performance management system could be in the works, according to Mercer research.  

“Performance management techniques like forced ranking, technology and continuous feedback have
not achieved the desired impact,” said Lori Holsinger, PhD, global performance management study
leader at Mercer. “There is no silver bullet — employees want a curated, customized experience tailored
to their preferences and employers want a less laborious year-end process that is linked to other talent
priorities.”

The traditional style of feedback tends to come from a manager once or twice a year. However, many
employees interact with several different groups throughout an organization, so Holsinger anticipates
that organizations will be nimbler with how they try to guide employees, soliciting feedback from those
different groups rather than one manager. To do so, they’ll leverage AI by scraping various databases for
communication purposes.

“In the future, it’s really going to shift to a more accurate assessment of who an employee is connected
to,” Holsinger said. “Those individuals then will be more connected and able to provide that feedback
that’s meaningful.”

The second prediction, Holsinger said, is predicated on the idea that HR will become more dynamic in
the future. HR will do this by developing talent models that are more templated, which will be especially
important for startups and high-growth organizations, Holsinger said.

Ultimately, it comes down to HR having the capability to be flexible with goal setting, which is the most
important element of performance management.
“The ability to communicate to employees that these are the priorities I need to focus on today or next
week,” Holsinger said. “Using a more templated approach can really help HR support the business in a
way that they need to be supported in order to take advantage of their most important asset — their
employees.” 

Principals of the future organization :


Implications of organization :

Implications of managers :
Importance :

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